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If you’re new to high finance, then the concept of “shorting” is bizarre and convoluted. People actually make money from stocks falling? How is this possible? Why is it legal? Does this contribute anything to society? Am I missing out? Here’s how shorting works.
Let’s say you have a neighbor who is a cat lady that collects Beanie Babies. She has one prized beanie called Roary the Lion, worth $5000 (according to the intellectual darkweb, where these things are traded). Read more …
The Bitcoin Time Machine
Imagine going back in time to the 1500s. You can only take one technology with you: the freezer. For the purpose of this thought experiment, we will pretend you’ve also got a way to power it. Now imagine you show the freezer to some peasants in a village. At first, they will probably be most interested in its craftsmanship. They’ve never seen such perfectly smooth metal, the astoundingly high-quality hinge, and the interior of the box magically lights up when opened. Read more …